Posco to Jointly Build $448 Million Nickel Refining Plant

Bloomberg reports Posco (SEO:005490) plans to build a $448 million nickel refining unit in South Korea with its New Caledonian partner.

The market news is quoted as saying,

The plant, to be located at Gwangyang, southwest of Seoul, will increase the venture’s nickel production capacity by 80 percent to 54,000 metric tons a year by 2014, Posco said today in a statement. Societe Nickel de Nouvelle-Caledonie et Coree, the venture, will start construction next month.

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